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~ MORTOAO[ OEEO O /
loNO IOSr - ~ ~ , . ~ RAMCO ~ORM REtl
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~I /:xprul~d Ih~ 7th ~la o May A. I). 19 b
~ y ! 76 y
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~ CLARENCE MERK, SR. and OLIVTA T. MERK, his wife
IIFIPI?iQ~ler <•n~~~~ t~~e morfgac~or. lo
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~i DONALD I. CADLE and GLADYS CADLE, his wife
herein~(ter i•all~~l Ilu• morlynt~ee:
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i (N'Acmw u.ed herein t6e urms "mortSaRor" aad "awrttat~e" iociude all t6e putiet to tLis imtrumret aod t~e 6ein.
I, keal repr~+euuti~es and ass:xm ol indi~iduih. aad tAe wcna+..n and ani[a+ ot cotporatioas: a~d tAe term "noti'
~ incladn aU tht nutn b~~~ia desr~iAea! iI mwe thaa on~.l
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~ ~~tnesse~~ Ihat ~o~ good and ~~alua6lp eor~sicleralions, ar~d a~so in coruideralion of tl?e aggre-
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gate sum .namecl in Itie promissory note o~ Pl~Pfl cjate herewith, {~Preina~fer descri6ed, f~e mortgagor ~ere-
! hy granls, harf~ains, s~~~s, a~iens, remises, conneys anc~ con~irms unto fha mortgagee nl~ i~e certain land
o( u~hic{~ the morfc~a~~or is nou~ 3PtZP~ an~ in possession sifuale i?i $t. Lueie County.
F~orida. ~~iz: ~F~,~'~, 1
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Lot 4, Block l, AIBISCUS PARR SUBDIVISION, as
per plat thereof recorded in Plat Book 8,_Paqe ~
11, Public Records of St. Lucie County, Florida.
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This is a second mortgage and is inferior to the first mortgage
held by Citizens Federal Savings &~oar~Association of St. Lucie
County, Florida, recorded in O.R. Book , Pa e
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Public Records of St. Lucie County, Floi3c~a, which mortgage
the mortgagors herein assume and agree to pay.
In the event that the mortgagors default in any payment or
i; condition stipulated in any prior mortqage for a period of sixty
i~ day~, or in the event of any default in a prior mortqage so
as to caus~ such prior mortgage to be accelerated and become
i due and paygble durinq the continuance of thi mortgage, then
~ the entire aums secured by this mortgage shal become due and
E payable at the option of the mortgagee. '
~ The mortqagors covenant and agree to make all payments and
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' perform all conditions and covenants called for in any prior
~ mortqages now encumbering the property, and in the event of
~ , default in any such payment or payments, conditions or stipu-
~ lations, the mortgagee, without waiving the option to foreclose
herein reserves the right to make such payments or perform such
' conditions or stipulations, so as to maintain the prior mortgages
and prevent a foreclosure hereof. Any and all such sums paid
~._i or expenses incurred ori behalf of the mortgagor, together with
interest prescribed in the note underlying this mortgage, shall
~ a be added to the mortgage indebtedness and be secured by this
~ , ° ~ mortgage.
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~ ° Privilege is reserved to prepay this note and mortgage in whole
~ ~"t or in part at anytfine without notice and without penalty.
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~ > ~ RECfIIl~D • 6 6 Ih PAYMENT ~ TAXE!
~ ' x ~ on cuss ~ ~nt~ncie~ ~~sor~u~ ~n.
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~ • . PURSl1AMT TO CFtAPfER 71-134, 11CTS OF 1971.
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